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Banking Department Seeks Fee Modernization; Committee Questions Small-Business Impacts
Summary
HB1207 would restructure how the Banking Department funds its operations by replacing hourly exam fees for chartered institutions with predictable annual flat fees and updating long-unused licensing fees. Department officials said changes smooth revenue and align practices with current workloads; senators pressed for protections for small businesses and clarification of fee calculations.
Representative John Hunt presented HB1207 as the Banking Department’s omnibus modernization and housekeeping bill. Commissioner Amelia Galeri explained the bill replaces hourly exam fees for state-chartered depository institutions with a fixed annual base fee and raises certain licensing fees that have not been updated in decades, with the aim of…
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